5 Crore Home Loan EMI

Paying your Home Loan EMI is the first thing that you pay once your salary gets credited. It is very important to take into account the magnitude of your home loan EMI beforehand taking a loan of big amount as Rs 5 crore.

Following are the details of Rs 5 crore home loan EMI for 5 years, 10 years, 15 years, 20 years and 30 years tenure at a 8.50% p.a. interest rate:

There are many banks, non-banking financial companies (NBFCs) and other financial institutions that offer Rs. 5 Crore Home Loan at different interest rates. Following are the interest rates of top ten banks and NBFCs for a Home Loan of Rs. 5 Crore. The EMI is calculated for a tenure of 30 years for different interest rates within the slab stipulated for each bank:

The Rs. 5 Crore home loan EMI for 10 years tenure at an interest rate of 8.50% p.a. would come to Rs. 6,17,258 The EMI on a loan of Rs. 5 Crore for a tenure of 10 years varies from lender to lender depending on their rate of interest and borrower’s eligibility.

The EMI for 5 Crore home loan for 20 years tenure at an interest rate of 8.50% p.a. would come to Rs. 4,30,752. The EMI on a loan of Rs. 5 Crore for a tenure of 20 years varies from lender to lender depending on the interest rate offered by the lender and the borrower’s eligibility.

EMI for Rs. 5 Crore home loan for 30 years of tenure will be Rs. 3,80,919 at an interest rate of 8.50% p.a. There can be a change in the EMI on an Rs. 5 Crore loan amount for a tenure of 20 depending on the lender, interest rate offered by the lender and the eligibility of the borrower. You can use Rs. 5 Crore home loan EMI calculator available on our website to calculate the EMI for Rs. 5 Crore home loan for various tenures and interest rates.

The factors that affect Rs. 5 Crore home loan EMI are:

• Income: Individuals employed in Central/State Government organisations and Public Sector Organisations have guaranteed income. The interest rates for loans to these individuals will be comparatively lower, and the cost of the loan will also be lower.
• Interest type: If you have chosen a fixed interest rate, then the rate of interest will be 1 to 2% higher than the floating interest rate. As per current trend it is advisable to go for a fixed interest rate initially for 3 yrs and then switch to floating rate of interest.
• LTV Ratio: The rate of interest charged depends on the LTV Ratio. Banks normally provide 80% of the market value of the property as a home loan. The higher the margin, the lower will be the interest rate as the risk associated will be lower for the lender. With a better interest rate, the EMI will also be lower.
• Tenure: A longer tenure will lead to a higher EMI and vice versa.

You have to meet the following Home Loan Eligibility Criteria to be eligible to avail of a home loan of Rs. 5 Crores:

Eligibility for Salaried Applicants

• Applicants should be Indian residents.
• Applicants should be aged between 18 to 65 years.
• Applicants should have at least 3 years of work experience.
• Applicants should be earning a monthly income of at least Rs 3,20,000.

Eligibility for Self-employed Applicants

• Applicants should be Indian residents.
• Applicants should be aged between 18 to 65 years.
• Applicants should have a profitable business for at least the last 5 years.

You will have to submit the following documents to apply for Rs 5 crore home loan:

• Duly filled and signed home loan application form.
• Recent passport-sized photographs of the applicant.
• Identity proof like Pan Card, Aadhaar Card, Passport, Driving License, Voter ID, etc.
• Address proof like Aadhaar Card, Passport, Driving License, Voter ID, etc.
• Age proof like Birth Certificate, Class 10th Certificate, etc.
• Bank statements of the last 6 months.
• Processing fee cheque.
• Form 16 or Income Tax Return.
• CA certified Balance Sheet and Profit & Loss Statement of last 3 years for self-employed applicants.
• Business profile of self-employed applicants.

The step-by-step process to apply for a home loan of Rs 5 crores is given below:

• Visit our website and click on the ‘Home Loan’ that is mentioned under the ‘Loans’ section.
• Fill out the online application accurately by entering all the details as required.
• Enter the ‘OTP’ received on your registered mobile number.
• Then click on the ‘Submit’ button to view the best home loan offer quotes.
• Home loan offers from our partner lenders will be displayed on your screen according to the information entered by you.
• Choose the lender preferred by you and apply online.
• Our home loan experts will connect with you soon regarding the completion of your home loan process.